Mind Medicine (MNMD) AI Stock Analysis

• Market Cap: $596.12M
• Dividend Yield: N/A
• Average Volume (3M): 1.10M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.67
• Revenue Growth: N/A
• EPS Growth: 26.24%
• Country: US
• Employees: 57
• Sector: Healthcare
• Sector Strength: 44
• Industry: Biotechnology
• EPS (TTM): -0.27
• Shares Outstanding: 75,553,270
• 10 Day Avg. Volume: 1,039,719
• 30 Day Avg. Volume: 1,102,547
• PEG Ratio: 0.03
• Price to Book (P/B): 0.45
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -1.35
• Enterprise Value/Market Cap: -0.12
• Enterprise Value/Revenue: -7.67
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: 0.19
• 1Y Price Target: $23.22
• Price Target Upside: 268.57% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 9

• Rating: 40 Neutral
• Price Target: ―

Mind Medicine's stock score is primarily impacted by its weak financial performance, marked by zero revenue and substantial net losses typical of clinical-stage biotech firms. The strong liquidity position is offset by reliance on equity financing. Technical analysis shows moderate positive momentum, but valuation metrics are unattractive with a negative P/E ratio. The lack of earnings call data and corporate events leaves financial performance as the dominant factor in the overall score.

Positive Factors

Financial Stability

MindMed ended with ~$245M of cash, which should provide a cash runway into 2027, ensuring financial stability for ongoing projects.

Pipeline Progress

MindMed continues to advance its late-stage pipeline with all three Phase 3 trials for MM120 actively enrolling, with top-line data expected across all programs in 2026.

Strategic Positioning

MindMed's strategy of targeting both generalized anxiety disorder (GAD) and major depressive disorder (MDD) may offer competitive advantages due to the high degree of comorbidity, positioning MM120 as a more comprehensive treatment.

Negative Factors

Development Risks

MindMed's development strategy includes measures intended to mitigate regulatory risks common to psychedelic trials, which highlights the potential difficulties in the approval process.

Market Expectations

With functional unblinding a known challenge in the field and expectations high, the quality and robustness of the Phase 3 data will be especially important in determining regulatory path and commercial viability.

Regulatory Challenges

Functional unblinding is a known challenge in the field, making the quality and robustness of the Phase 3 data especially important in determining regulatory path and commercial viability.

Mind Medicine Business Overview & Revenue Model

Company Description

Mind Medicine Inc is a psychedelic medicine biotech company that discovers, develops, and deploys psychedelic inspired medicines and therapies to address addiction and mental illness. The company is assembling a compelling drug development pipeline of treatments based on psychedelic substances including Psilocybin, LSD, MDMA, DMT, and an Ibogaine derivative, 18-MC. The firm is having an approach towards developing the next generation of psychedelic inspired medicines and therapies.

How the Company Makes Money

Mind Medicine makes money through a revenue model that primarily involves research and development activities aimed at creating marketable psychedelic-inspired therapeutics. The company's key revenue streams are anticipated to come from the successful commercialization of its drug candidates, which are currently under various stages of clinical trials. Additional revenue could be generated through strategic partnerships with pharmaceutical companies, licensing agreements, and collaborations with research institutions. MindMed may also explore opportunities for grants and government funding to support its research initiatives. However, as a biotech company still in the development phase, substantial revenue generation is contingent upon regulatory approval and market acceptance of its therapeutic products.

Mind Medicine Financial Statement Overview

Summary

Mind Medicine's financials reflect its status as a clinical-stage biotech firm. The income statement highlights a lack of revenue and persistent losses due to high R&D costs, typical for its industry. The balance sheet shows a strong liquidity position but a reliance on equity financing. Cash flows indicate a need for external financing to sustain operations. While the company is positioned for potential growth if its pipeline succeeds, the financial health is precarious without incoming revenue or successful fundraising.

Income Statement

Mind Medicine has consistently reported zero revenue over several years, reflecting its pre-revenue stage typical in the biotechnology industry. The net income is negative due to high R&D and operational expenses, which is common for biotech firms investing in drug development. However, the lack of revenue and increasing net losses indicate financial strain, which can be concerning if not managed through external funding.

Balance Sheet

The balance sheet reveals a strong cash position, with cash and short-term investments significantly exceeding total liabilities, resulting in negative net debt. The company has no debt, which reduces financial risk. However, the equity ratio is declining, and the company is heavily reliant on equity financing. This could dilute existing shareholders if the trend continues without revenue generation.

Cash Flow

Cash flow analysis shows negative operating and free cash flows, reflecting high operational expenditures without revenue inflow. The company relies heavily on financing activities to fund operations, which is unsustainable in the long term without generating positive cash flow from operations.

Breakdown
TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement		Total Revenue
0.00	0.00	0.00	0.00	0.00	0.00
	Gross Profit
0.00	0.00	-3.16M	-3.22M	-2.62M	0.00
	EBIT
-113.87M	-103.92M	-93.87M	-66.33M	-96.36M	-33.03M
	EBITDA
-84.59M	-103.92M	-92.57M	-53.57M	-91.22M	-33.77M
	Net Income Common Stockholders
-77.63M	-108.68M	-95.73M	-47.26M	-93.04M	-34.10M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
212.44M	273.74M	99.70M	142.14M	133.54M	80.09M
	Total Assets
275.32M	302.15M	124.54M	169.99M	164.00M	81.52M
	Total Debt
22.04M	21.85M	14.13M	72.00K	0.00	0.00
	Net Debt
-60.82M	-251.89M	-85.58M	-142.07M	-133.54M	-80.09M
	Total Liabilities
52.52M	60.70M	46.41M	19.08M	12.34M	5.65M
	Stockholders Equity
222.81M	241.45M	78.13M	150.92M	151.66M	75.87M
Cash Flow		Free Cash Flow
-71.96M	-79.13M	-64.36M	-50.14M	-45.82M	-23.60M
	Operating Cash Flow
-91.69M	-79.13M	-64.36M	-50.14M	-45.82M	-23.60M
	Investing Cash Flow
-162.46M	0.00	0.00	0.00	-297.00K	0.00
	Financing Cash Flow
83.68M	253.20M	21.85M	59.05M	98.82M	96.70M

Mind Medicine Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 6.30
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MNMD, the sentiment is Positive. The current price of 6.3 is below the 20-day moving average (MA) of 7.29, below the 50-day MA of 6.50, and below the 200-day MA of 6.76, indicating a bullish trend. The MACD of 0.32 indicates Negative momentum. The RSI at 54.84 is Neutral, neither overbought nor oversold. The STOCH value of 62.84 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for MNMD.

Mind Medicine Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ALT	59 Neutral	$546.66M	―	-57.28%	―	-95.12%	21.09%
VERV	58 Neutral	$569.18M	―	-34.26%	―	271.44%	26.65%
ATAI	57 Neutral	$451.69M	―	-62.43%	―	-0.90%	-89.51%
AMLX	57 Neutral	$513.45M	―	-83.24%	―	-100.32%	-197.69%
Sector *	54 Neutral	$5.38B	3.40	-45.06%	3.28%	16.75%	-0.02%
MNMD	40 Neutral	$596.12M	―	-37.07%	―	―	26.24%
SANA	33 Underperform	$656.37M	―	-71.44%	―	―	19.94%